Lynn / Wang Emerging Market Real Estate Investment

Investing in China, India, and Brazil
1. Auflage 2010
ISBN: 978-0-470-91258-4
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 256 Seiten, E-Book

Reihe: Frank J. Fabozzi Series

Emerging markets in real estate investing have been an increasingfocus for institutional real estate investors worldwide. Part ofthe Fabozzi series, this book is an insightful overview ofinternational real estate focusing on three of the BRICs: China,India, and Brazil. The authors provide a framework forthinking about these dynamic markets characterized by youthfulpopulations, extraordinary demand, capital inefficiency, andaspiration. Also discussed are the sociopolitical issues, policy,and entry/exit strategies. Notably, the book makes a sanguineassessment of the risks and opportunities of alternative strategiesin each country.

Autoren/Hrsg.

Lynn, David J.

Wang, Tim

Inhaltsverzeichnis

Preface vii
Characterizing Emerging Market Real Estate x
China, India and Brazil x
Outline of the Book xvi
Note xvi
Disclaimer xvii
Acknowledgments xix
CHAPTER 1 Fundamentals of Real Estate Investment 1
Investing by Property Sector 3
Investing by Style 7
Investing by Phase 9
Asset Allocation 10
Notes 10
CHAPTER 2 Investing in International Real Estate 13
Why Invest in International Real Estate? 13
Risks in International Real Estate 22
Mitigating Country Risks 23
Notes 26
CHAPTER 3 China 27
Introduction 27
Overview of the Market Environment 29
The Real Estate Market 48
Property Sectors 56
Primary Markets 66
Secondary Markets 80
Investment Strategies 84
Notes 98
CHAPTER 4 India 101
Introduction 101
Overview of the Market Environment 102
The Real Estate Market 111
Property Sectors 115
Primary Markets 128
Secondary Markets 136
Investment Strategies 140
Notes 152
CHAPTER 5 Brazil 153
Introduction 153
Overview of the Market Environment 153
The Real Estate Market 171
Property Sectors 174
Primary Markets 200
Investment Strategies 203
Notes 209
APPENDIX A Country Risk 211
APPENDIX B Property Market Practice in China 213
Bibliography 217
About the Authors 219
Index 221

Über Autor(innen)

DAVID J. LYNN, PhD, is an institutional real estateinvestor, strategist, and portfolio manager with extensiveexperience in national and international markets. Currently, he isManaging Director, Head of the Research and Investment StrategyGroup, and Generalist Portfolio Manager at ING Clarion Partners. Inthis capacity, he directs the firm's strategic and tacticalinvestment decisions regarding investment portfolios. He is also amember of the Investment and Operating Committees, where he makesdecisions on billions of dollars of new investments, portfolios,fund strategies, and dispositions. Lynn's theoretical workhas yielded new approaches and analytical techniques in the areasof active portfolio management, market forecasting, financialdistress, and emerging markets. He has published widely on thesubjects of real estate investment, development, economics, andland use. Lynn has written or coauthored over seventy articles,internal investment and strategy papers, and three major books,including Active Private Equity Real Estate Strategy. Hewrites a highly regarded column called "Capital Trends"in National Real Estate Investor magazine and is frequentlycited in the media for his views on the economy and the real estateindustry. Lynn earned his PhD in financial economics from theLondon School of Economics, where he also earned a master ofscience specializing in finance. He holds an MBA from MIT'sSloan School of Management.
TIM WANG, PhD, is Senior Vice-President and SeniorInvestment Strategist with the Research and Investment StrategyGroup at ING Clarion Partners. Dr. Wang joined ING Clarion Partnersin 2006 and has authored more than fifty internal and external realestate investment strategy and market research articles and bookchapters. He is a frequent speaker at industrial conferences. Timholds an MBA from New York University and a PhD from the Universityof Georgia.